Shares of GNC rising in market debut

NEW YORK 
Shares of vitamin and nutritional supplements chain GNC are rising in their market debut after the company's initial public offering raised $360 million.

GNC Holdings Inc. sold 22.5 million shares for $16 apiece. The Pittsburgh company had expected to sell the shares for $15 to $17 each.

GNC says it is the largest nutritional supplements chain in the U.S. The retailer plans to grow overseas, particularly in China, and increase its online market share.

It's the latest private equity-backed company to go public following record capital raises from hospital operator HCA, pipeline company Kinder Morgan and ratings and research provider Nielsen, earlier this year.

In morning trading on the New York Stock Exchange, shares under the "GNC" symbol are gaining 48 cents, or 3 percent, to $16.48.